It was a replay of last season's final - a match that by their own admission carries "a bit of needle".
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But for Paterson, the chance to gain some revenge for last season's defeat to Port Stephens in the final went begging.
Despite home ground advantage, Paterson struggled from the outset and never really threatened in replay to Port Stephen's formidable total of 203 for their 40 overs.
"It was a tough chase," Paterson captain Dean Bridges conceded.
"They won the toss and batted and had a good partnership that we were unable to break.
"It meant they could post a good total, which put our batsmen under a lot of pressure."
For Paterson, Brad Bidner and Rod Faulkner were the pick of the bowlers, but it was generally a tough day as the runs flowed freely.
In reply Paterson desperately needed one batsman to make a big score, but it wasn't to be.
"No, the opposite in fact," Bridges said. "We had a number of batsmen make starts but no one was able to really take control and get the big score we needed.
"We had Jack Cowled top score with 24, but we also had Brad Bidner (23), Russell Presland (23) and Chris Merchant (20) all in the 20s.
"Obviously if you're chasing a big total like that a top score of 24 just isn't going to be enough.
"It's disappointing because it's a bit of a needle match and a missed opportunity for us."
Despite the loss Paterson still sit in second place one ladder after four rounds with a record of two wins, a loss and a draw.
Next up they take on Tenambit Morpeth away from home - a team that, ironically, has already beaten the powerful Port Stephens this season.
"It has been a solid start for us, but it's still early in the season - just four games played - and there's definitely room for improvement," Bridges said.
"But you would expect that at this time. There wouldn't be too many sides playing at their best right now.
"Hopefully we can get a win against Tenambit Morpeth and consolidate our position."
Paterson's bowlers shared the wickets, with Brad Bidner, Rod Faulkner, Rigby Vane-Wood and Russell Presland all picking up two wickets.
Faulkner, in particular, bowled tightly and was able to keep the scoring in check with 2-27 from his allotted eight overs, with Bidner also doing a good job to finish with 2-35.
In other matches Port Stephens will meet The Old Vic while SMR will host Easts.